Running a Business

The documents and legal help you need to run your business. Hiring, raising money, staying compliant and more.
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Kendall Jones, Esq.

Rocket Lawyer On Call Attorney

Common Questions About Running a Business

What counts as a business expense?

One of the perks of running a business is that you can deduct common expenses so long as they qualify. The IRS defines an eligible business expense as ordinary and necessary—essentially, something that’s common in your particular area of business and needed to efficiently do business, such as a truck for a moving company.

Do my business agreements need to be in writing?

Generally speaking, contracts and agreements do not need to be in writing, although there are exceptions. Anything involving transferring land, goods over $500, or services that could take longer than one year typically need to be in writing. Aside from a legal requirement, having your agreements in writing can help ensure you and your business partners are on the same page and protect your rights if there’s ever a disagreement.

How do I expand my business?

Once you have a handle on everything you may start to look at expanding. There are lots of ways to expand: offering new goods or services, finding new markets, and hiring new employees. After you decide which option fits your business the best it’s important that you have a reasonable Business Plan in place.

What tax information should I be aware of?

Small business and large multinationals alike have to pay taxes. Property taxes, payroll taxes, and fees for licenses and permits can all come into play when you’re running your business. While you often won’t have a choice of paying taxes choosing to incorporate can give you more option with how to pay them. Visit our Incorporation page to learn more.

Need anything else?

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More Documents for Running a Business

Work with Partners

Joint Venture Agreement Start your business relationship off right
Non-Disclosure Agreement Protect your confidential information
Mutual Non-Disclosure Agreement Protect everyone's trade secrets

Hire Employees

Employment Application Find the perfect employee
Confidentiality Agreement Protect your important information
Employment Contract Make your new hire official

Start a Partnership

Partnership Worksheet Organize your partnership before it starts
Partnership Agreement Set your partnership in stone
Limited Partnership Agreement Set boundaries in your new business relationship

Stay Compliant

Corporate Bylaws Set out how your corporation will be run
Corporate Minutes Memorialize your important meetings
Corporate Records Keep your internal files up to date

Raise Money

Offering Memorandum Attract investors
Business Proposal Show why someone should invest
Business Plan Put your winning strategy in writing

Selling a Business

Business Sale Agreement Sell your business or purchase someone else's
Buy-Sell Agreement Create a "business prenup"
Property Sale Agreement Liquidate your product, assets, and more
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